Snedeker turned things around with 26-foot birdie putts at the par-4 13th and 14th holes, missed a 30-foot eagle putt at the par-5 15th but tapped in for birdie, then completed a run of four consecutive birdies with a 14-foot putt at the par-3 16th.
The Ryder Cup regular made three straight birdies from the second before slipping back with a bogey at the fifth, but he got the shot back at seven and a nerveless four-foot putt on his final hole earned him a 59.
"If you'd seen my play yesterday, nobody could see this coming, trust me", said Snedeker, who "found something" late on Wednesday that helped him synch-up his swing.
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Snedeker's round broke the tournament and course record of 60, which was most recently shot by Kim-Si woo when he won at Sedgefield Country Club two years ago.
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"To know what you're trying to do and step up and have a 20-footer (on the final hole) and know what it means, I was very aware of what was going on, and to knock that putt in was really special", Snedeker said. Jim Furyk, the USA captain in Paris next month, remains out on his own with a 58 in the Travelers Championship in 2016. "It's probably why I love golf so much, you never know what you're going to get when you show up".
He birdied four holes in a row on his front nine for a 32.
"But I feel the putter getting hot again and I know my best golf is ahead of me".
"If you play well", Peter Uihlein said, "you jump up quite a bit". "I don't do this every day".
It's the tenth time that a sub-60 score has been posted (Jim Furyk has done it twice) and the first since Canada's Adam Hadwin manufactured a 59 in the third round of the 2017 CareerBuilder Challenge.
Matsuyama is 16 world rankings right now but has finished outside the top 30 in his last four tournaments.